Financial Literacy Vocabulary

Resources are natutal or man-made ________ or materials needed to satisfy wants and needs

To give food, time, and/or money to someone in need

Purchasing goods and services to satisfy wants and needs

When you save money you put money away to use at a later time.

Income is money earned for working and money received for the sale of goods or property

When you make a deposit, you put money into your bank account.

Interest is money paid for borrowing money or making purchases on a credit card.

When you withdraw money, you are putting money into your bank account.

When an item is scarce, that means that human wants are greater than the amount of items that were produced or made.

A plan for the money that you have to spend

Allowance is a small amount of money earned from parents or other family members.

What is another word for work?

A credit is when you buy or obtain goods or services __________ with an agreement to pay in the future.

Donating to a charity that collects money, goods, or services for groups in need is called what?

A _____________ plan is a plan to set money aside for future use.

A charity is a group that __________ the community or a group of people in need.